Money

Since 1834 the legal currency in Jersey has been British sterling. Up until that year the Island had used French currency, with the "livre tournois", "sou" and "liard"; even after the changes of 1834 the same coins were used. The calculation was 520 sous to one British sovereign.

Britain’s pre-decimal coinage had 12 pence to a shilling (equivalent to 5 new pence as we have today) and 20 shillings to a pound. From 1834, the Jersey population calculated an equivalent to the old French currency, which meant that a British shilling (12 old pence) was equal to 13 Jersey pence. Twenty British shillings (each equivalent to 5 pence today) equalled one British pound, but twenty British shillings equalled one pound, one shilling and eight pence in the Jersey money. This may sound confusing, and so it proved. This discrepancy caused a lot of problems, particularly for local traders and businesses.

It was at this time that Jersey coins for less than a shilling were described as a fraction of a shilling: a thirteenth, a twenty-sixth, or a fifty-second. Eventually in 1876, it was agreed that the Jersey penny would equal the British penny, and the coinage became the same value as the British, with 12 pence to one shilling and one pound equal to one pound! The coins were then designated a twelfth ( a penny), a twenty-fourth (a halfpenny), or a forty-eighth (a farthing). This is in contrast to the British coins which were called for the number of pence (e.g. sixpence, threepence, penny, halfpenny).

During the early part of the 19th century there were problems with the supply of metal coins. Suddenly vast amounts of paper money appeared, for values from a shilling (now 5 pence) upwards, issued by banks, businesses and less scrupulous individuals, amongst others. Amongst the organisations issuing bank notes were some of the parishes. Gradually the authorities tightened regulations to protect the Island from financial chaos.

The first time the States issued notes was during the Occupation, when again there was a shortage of metal coins. Apart from the Occupation, the earliest States of Jersey notes were issued in 1963.

During the Occupation notes were printed for many and various amounts. Edmund Blampied’s artwork is particularly distinctive, and his sixpence note was so designed that when folded in the right way, it showed a prominent V sign (for Victory)! (Go to People, choose St Martin, and you will see Blampied’s note)

The currency in use today in the Island is a mixture of Jersey, Guernsey and British notes and coins. They share the same values. Jersey and Guernsey both accept coins and notes from all three areas. Scottish notes are also sometimes to be found in circulation in the Islands. However, Jersey and Guernsey coins and notes are not legal tender in Britain.

Jersey notes and coins all feature an illustration of local interest. The current series dates from about 1983 when local illustrations were introduced.

There have been various special issues. Two series are of particular interest as they feature on the pound coin (which is used alongside the one pound note, which still exists in Jersey and Guernsey). One series was based on the parish emblems, with 12 in the series. The other was based on shipbuilding, with 6 different types of ship portrayed.

British pound coins are also varied. Some reflect different parts of the UK, and have symbols relating to Scotland, England and Wales. There are also quite a few commemorative issues to look out for.

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Look out for...

• Different coins
  • British coins
  • Guernsey coins
  • Jersey coins
• Different banknotes
  • British notes
  • Guernsey notes
  • Jersey notes
• The birds on the notes
• Pound coins

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